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So what planning horizon should I use for my balanced scorecard? 1 year, 2 years, 6, 10 perhaps? First recognise that different tools in the overall Balanced Scorecard approach to strategic management are for different planning horizons. Tangible future for 10 years, strategy map for 2-5 years, and scorecards measures for 12-24 months, whilst targets [...] The importance of thinking through the balanced scorecard cascade to ensure you develop line of sight, and planning the overall architecture of your set of balanced scorecards… [...] If you manage an airline, you will know that your aircraft have to leave and arrive on time, you need efficient check-ins, you want to ensure your planes are full and you want to optimise the income (yield) from each flight. These are each “points of performance”. If you run a meals on wheels service [...] One of the important distinctions I make in modern fourth generation balanced scorecard design is that they are focused on strategy implementation rather than measuring today’s operational performance. This is an important distinction because it puts a completely different purpose on the work you do and frames how they are used quite differently. Whilst researching [...] Dear Prime Minister, I understand your point that we should not just think about money, but the idea of measuring the nation’s happiness, fills me with woe (and my happiness quotient dropped as a result). Let me explain why I have some concerns about this idea by explaining the problems of measuring the nation’s happiness [...] The question was asked, how do you manage risks with the balanced scorecard and how is risk management integrated with the balanced scorecard? I’ve been thinking about this and asked myself the question, “Why would the balanced scorecard not include the management of risk?” A little thought brought me to three conclusions: * The first [...] So often I come across “balanced scorecards” that have re-named the learning and growth perspective as “people” or “employees”. They think it is more representative. However the original name was given for a reason. There are three good reasons for keeping the name “Learning and growth”. First, names such as “employees” or “people” or “culture” [...] How do we improve strategy, planning, performance and results in our organisations? Think agility, responsiveness, sustainability. Think learning (not merely control). Think Human Beings (not just employees). Think management appropriate to the 21st century… Explore the menu, topic cloud, or search. Learn about 4G Strategic Balanced Scorecards, Visit our main website. But to really improve contact Phil. [...] At an Institute of Director’s economic briefing in November, the Chief Economist of the IOD said that we are still facing uncertainty, its just that the uncertainties are changing. I think the uncertainty continues to change, especially with impending elections and economic fog. Therefore I find two tools most useful in this time of uncertainty [...] Using Judgement and Evidence in Modern Balanced Scorecards: the use of subjective and qualitative measures. Audience questions and responses I presented a BetterManagement webinar on this subject, on 14th October, and it received a lot of interest. You can listen again to the webcast on the better management site (See link at the end) Here [...] |
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